Newsletter Articles | August 31, 2000
Magellan Health Services Announces Mixed Third Quarter Results And Prepares For Downsizing
OPEN MINDS, The Behavioral Health & Social Service Industry Analyst
Industry News
Staff layoffs are planned at Magellan Health Services as overall profits for the company fell by nearly 80% in the third quarter, with net income of $5.0 million ($.12 per share) versus $21.5 million ($.67 per share) for the third quarter of 1999. In announcing its results for the quarter, Magellan Health Services excluded from financial comparisons its Specialty Health division, which experienced significant losses ($8.1 million). This softened the picture to show an 11% increase . . .
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